Founded by South Carolina Federal Credit Union, Indirect Lending Services provides the infrastructure necessary to help client credit unions manage their own indirect lending program without a sizable financial investment.
When your credit union decides to start an indirect lending program with Indirect Lending Services, it’s imperative that the process be easy to manage for all parties involved. Indirect Lending Services provides a secure Internet-based infrastructure that allows dealers to input loan applications and your credit union to monitor their status. In less than 60 seconds an application is auto-approved, if not, the application is transferred into the CUSO underwriter’s queue for a decision. Dealers can track their deals at any time during the process in the system and once the final decision is made the dealer will receive a fax notification.
We can even guide your credit union in the development of rate structures and threshold levels based on our experience in the industry.
Other services provided by our web-based software include:
- Automatic adverse action letters for declined applicants
- The calculation of dealer incentives
- Testing for Reg. Z rate tolerance
- Over 25 administrative reports to help with the tracking of your program’s performance
Indirect Lending Solutions also provides consultation services that include issues relating to the recruitment of dealers and the cultivation of positive relationships, financial responsibilities, training, policy development, pricing structure, dealer reserve calculation, and approval criteria for a comprehensive and competitive program. Contact us today to learn more.